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. >>> when we come back on squawk, bank of america ceo brian moynihan in his own words, we caught up with him yesterday to talk about business, the economy and the looming figure. as we head into a break, bank of america, best performing dow component of the year. up about 77%. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? indicated up 14 points. unable to hold on to the gains we saw yesterday
. the hair on the back of my neck stood up, and i thought, there is no way that in america that this could happen. and i spoke out at that time, "you can't do that to us." and then he said, "yes, i can." i said, "that's not legal." and he came back with, "yes, it is." >> and it was. in the state of michigan, there is no law that prevents a boss from firing people virtually at will. at weyco, that meant no smoking at work, no smoking at home, no smoking period. >> good afternoon. weyco. >> weyco gave employees 15 months to quit, then they were subject to random nicotine testing. you fail, you're out. >> did either of you say, "okay, this is awful, but, you know, this is a chance to break the habit?" >> i did. i tried to quit smoking. i took advantage of their program, the smoking cessation program. but i was unsuccessful. >> i'm trying every way to cut down, quit--gum. i'm trying, yes, on my own, but i don't need an employer to do that. >> i pay the bills around here, so i'm gonna set the expectations. >> howard weyers is the boss, some would say tyrant, of weyco. >> what's important? this
. >> why can't you be a made in america company? >> you know, this i found, as a matter of fact, the engine in here is made in america. and not only are the engines in here made in america, but engines are made in america and are exported. the glass on this phone is made in kentucky. so we have been working for years on doing more and more in the united states, next year, we will do one of our existing mac lines in the united states. >> you can see the entire interview with tim cook tonight on rock center, that's 10:00 eastern time on your local nbc station, but for now investors are watching the market. apple shares 5.31, which is close to the main lows. this is close to the next s support level on the stock and really catching a lot of people by surprise. >> it's a fiscal cliff decline. this is the greatest capital gains generator of our lifetime. i would love to see what the gains are going to be next year. but i would be saying you need to sell it. we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are go
of america, merrill lynch recently held a 38% stake in hertz. after the offerings, the funds will hold a roughly 26% interest in the rental business. after the sales, hertz will not receive anything from the proceeds of the sale. coming up, squawk on the farm. we're going to talk crops, crops, crops, tractors and other equipment. and what it all tells us about the global economy. stay tuned. >> announcer: team, "squawk box" exclusive coverage of the "new york times" deal book conference. investing, the economy and the looming fiscal cliff. jpmorgan chairman and ceo jamie dimon, carl likely group co-founder david rubenstein and a lot more. it all starts tomorrow at 6:00 a.m. eastern. hi, i'm phil mickelson. i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness, and stop joint damage. because enbrel, etanercept, suppresses your immune s
? this is big news. >>> playing politics with america's fiscal future. >> we're nowhere, period. we're nowhere. >> they would like to go beyond that or do it differently. >> but we're rising above it and putting your money first. guest host david walker of comeback america initiative and democratic strategist steve mcmahon both here to help us find solutions. >> then, what goldman's jim o'neill is so he seeing to help you prepare for your investments straight ahead. plus, adding opportunities door to door. >> have a good day. >> thank you. >>> domino's pizza ceo patrick doyle is here. the second hour of "squawk box" begins right now. >> good morning, everybody. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is out this week. we've been watching futures this morning and they are indicated slightly higher. dow futures are up about 35 points above fair value, s&p futures and the fass dak futures are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing on meet
production is increasing, this quarter ford projects it will build 725,000 vehicles here in north america. they are increasing it by another 25,000 next quarter. and one other thing, carl, when we talked about importance of trucks. in november, ford had its best month for the f series since november of 2005 selling 56,000 f series trucks. that's an 18% increase compared to last year. you are really seeing the momentum building in terms of production in truck sales. >> yeah. up a fifth on f series. thank you very much. significant number. >> i bought my f series last year. great car. great job. f-350. not diesel. >> where do you keep that? >> it's part of our inn complex. >> got it. >> i assume we think gm might be good? 20 minute >> i think so. >> let's go to rick santelli in chicago. >> if you want to find out what's going on in the states, bob pisani is very accurately discussed, you have to look toward europe. so let's look toward europe. let's look at 24-hour charts. let's look at a 24-hour chart of the euro currency. started to do much better. you throw up the bund. many areas whethe
between america, i think, and really growth is having a long-term fiscal plan. what i would like to see, and i really like bob corker, he is a great guy, he's the kind of person we need in the u.s. senate, but i'd like to see some of these cuts locked in now, and i'd like to see some of this entitlement reform locked in today. i don't want to see all of that wait for six weeks. >> hmm. what's the right level for dividends and capital gains, do you think? should they be lower than ordinary income? >> look, i think what you will see is i think they'll both probably go to 20% would be my guess. i don't think you'll see dive dinds go back to ordinary income rates. >> is that okay? >> that's part of bowles-simpson or simpson-bowles, put it back at ordinary rates. what's ordinary rates coming down to? >> we brought ordinary rates down to 23%. you know, that's a horse of a different color. ordinary rates are going to be -- >> is it 23 or 28? that's another thing we always hear. >> well, what we put out is what the zero option was, which got it down to 8% of $70,000. 14% up to $210,000. and a m
is what dupont is talking about next year. 1.5% growth in north america, 4% in asia pacific. i do agree chain a's definitely a bright spot. that's certainly pretty good. dupont really big company, they operate across chemical business, they operate in electronics, agriculture. remember, housing, they owned the tybeck insulation business, that's been a monster business for them overall. i think china is the bright spot. if you look carefully, they're talking about 8% to 12% decline in revenues in 2013. even though they said we're projecting pretty much the same in 2013, as 2012, the ceo said there are signs of improvement in china. yet their numbers overall this year weren't that good. still, i'd say pretty cautious, hopefully china starting to emerge. again, fourth quarter may be the bottom here for china. guys, back to you. >> totally agree. joy would not be having this move if china were really going to be bad in 2013. it is a unique china play. let's check the bonds and dollars. rick santelli in chicago. rick, take it over. >> all right. well, if we look at interest rates in the 10-y
. america reelected barack obama to get the economy moving. history will judge him as a good president or not if he's able to get the economy moving. but i want to point one thing out tos a i've said before, this is the new barack obama 2.0. he's taking his he is message to the american people. he will not sit around and let the republicans litigate and relitigate things or let the chattering class of washington determine his destiny. he'll rally support and put the pressure on all of congress, not just the republicans, but democrats, as well. >> is that the freedom that a second term president gets, right? >> well, it's the freedom when you try to work with the republicans and frankly some of the democrats, as well. you can't blame all the republicans. some of the democrats didn't want to move on the entitlement issues and they'll have to move. so this is obama 2.0. a much more engaged, a much more activist president. you series bringing a business community in, community leaders, small business, not for profit. he'll be much more engaged in this second term. >> morris, on this issue,
, latin america. four out of the top eight markets of the world, when you asked, do i care what i look like, latin america. the market for tupperware products in latin america, $1 billion, $22 billion in cosmetics. >> how are you going up against the competitor? because most people think avon as the vehicle for cosmetics. >> all of our latin american businesses are way up. they're up double digits. we're pleased with what's happening there. >> okay, rick, huge in france. we know french economy not that good. women want to make some money during this period. france is strong for you. >> we've grown, almost doubled the company in the last five years in france. we're the biggest company of our kind in france. we're the largest seller of cookbooks in france. we had some issues the first two quarters, during the election, as you know, most of the consumers sat on the sidelines. we're starting to see it come back to life again. so we feel very good about france. ditto germany. >> isn't that incredible. >> rick, 52-week high when compared to avon. incredible. thank you so much for joining us.
. regulators are set to issue heavy fines this week. reuters suggest that authorities in america, britain and possibly japan will fine the swiss bank in excess of $1 billion for its part in the fixing of the rate. carolin rejoins us with more on this story. >> hey there, ross. if you believe press reports from swiss daily over the weekend, that fine could be much more than just $1 billion. it was suggested it could be $1.5 billion swiss francs or $1.6 billion. that would be a massive fine if that's confirmed and it would be much, much higher than what analysts had anticipated. three times the amount that barclay's paid over the summer and remember that ubs cooperated quite closely with authorities over the last two years and received conditional immunity from some of the regulators. that's why analysts believed that the fine would be considerably lower than that which barclay's paid. it does suggest that ubs may be the worst offender. as pat of the deal, according to a couple of press reports, ross, this is quite interesting. it says that ubs will even admit to criminal wrongdoing in its
's too soon to see the effects it may have for bank america's bottom line. >> it's a good gimmick to get people to start thinking about what they're saving. >> when you log onto this system, it not only digitally ages you, something you can do on iphone, which tells you digitally what things cost. when i retire, the domestic airfare is very expensive. $7 for a gallon of gas. >> $7 for a gallon of gas? >> who knows. >> why didn't you ask for an old tape of me. i can show you aging. it doesn't need to be digital. >> the problem is, even if we took a picture of you now. you wouldn't really age that much. you guys are eternal. >> i have to say, you don't look that deficit. >> i have to look pretty much -- >> are you going to show -- >> andrew is not here and that's a shame. we can do him. >> that's you. >> that's me. in case you didn't see it in the video. this is andrew. andrew wanted to make sure he got any lighting right in the picture. the middle picture is andrew if he ever retires. he's a workaholic. 107. still alive. he looks pretty good. >> if you're here at 107, not a bad deal. it c
? >> this is a normal process. new destinations for lastin america, korean nations, they have been improving in the last year or so. so that doesn't mean that europe is not -- europe is still the destination destination worldwide. >> ohio does it work out on the global net? i'm wondering whether the pie getting bigger has meant the european number stays the same. >> europe is still increasing, but now we have to -- >> it's getting bigger. >> exactly. >> right. okay. so we're not losing out. >> it's just interesting that the euro not being weaker is the largest issue regarding tourism. it doesn't look like that's in the cards. >> a weak euro is very good for our overseas travelers. they're coming to europe and especially the usa and canada are troubled a lot. which is very, very good. >> where is the money coming from? >> the usa and canada, we will now have to focus in brazil and china, which are emerging economies. >> and, james, do you find it at all encouraging if there's a balancing away from the european sector in europe? is it something that needs to happen or is it still going to remain on positi
about the u.s. treasury markets and how low yields are across the curve. high yield, corporate america, still around 6.5% and loans are around 5% and a more short duration assets. she should be trading at the higher end of the market. >>> when when we talked to david tepper, he said equities are the better value at this point. would you agree with that? >> yeah. i think if we get past this fiscal plan, all likelihood is next year will be a positive year. think about what can drive equity returns next year, it will be more about multiple expansion. he think there will be some leverage growth. where are you going the drive equity returns will be if multiples increase and really drive equity valuations. the high yield market in a lower growth stable market is going to get you good, stable returns with a lot less volatility. we do like some equities here, but we also like the credit markets and the loan markets. >> kevin, why doebts you weigh in on where things stand right now. we know what the fed is doing at this point. if washington gets its act together and we see some sort of an agree
in north america so far. it's a huge success. it's the quickest car in its segment. it has a carbon fiber construction. a lot of formula one drive technology. 0 to 60 in about three seconds and a quarter of a mile in under 11 seconds. >> you said you can roll down the back so you can still hear the engine. must be a really cool sound, right? >> you sure can. let me finish closing up -- >> the back? >> yeah, andrew, you had to keep your finger on that thing. >> here we go. >> might open now. >> open up. >> that's okay. we can open it and start. >> yeah. >> all right. >> i'll back up with my mike back here. >> wow. >> it's pretty. >> i think you're talking to me telling me we need to go, right? >> we do need to go. >> can't hear. >> you square for the quality, not at the quality, i mean it's not going to be like some british car where you got to drop the engine to change the wiper blade, right? >> you make this car in our technology center just outside of london, the same place where our formula one cars are designed and built. >> great, thank you. >> thank you very much. >> great to see yo
Search Results 0 to 14 of about 15

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